Financial Crisis Alert: SEC Seeks to Combat Market Manipulation

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Since the current financial crisis escalated, the SEC has indicated that market manipulation is an area of emphasis and it will use its enforcement authority to combat it.

Chairman Christopher Cox and Division of Enforcement Director Linda Chatman Thomsen announced that the Commission will investigate ?any suggestion of manipulative trading? in order to ?ensure that hidden manipulation, illegal naked short selling, or illegitimate trading tactics do not drive market behavior and undermine confidence.?1 They also announced that those under investigation will be required, under oath, to disclose their positions to the SEC.2

See full alert for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Mintz Levin - Public Finance Matters | Attorney Advertising

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